Is your business suffering from negative cashflow? Are pressures from HMRC, PAYE and other liabilities beginning to mount up? It is not uncommon for businesses to suffer such stresses at some point in their lifespan, and when these combine it can sometimes push a business over the edge into insolvency.
In such circumstances many directors are unaware of their choices. One possible solution is a creditors’ voluntary liquidation or CVL, which allows you to effectively and formally end the business whilst satisfying all the demands of your creditors to the maximum possible extent.
If the company consents to a CVL, then a licensed UK insolvency practitioner is appointed to oversee proceedings. This individual will take control of the company, a schedule is made of all the remaining assets and then these are sold off to satisfy the company’s creditors on a priority basis.
In certain situations UK based directors are permitted under company law to repurchase key assets and subsequently deploy them, setting up a new legal enterprise that can help save jobs, retain clients and even work out of the same premises. McTear Williams & Wood has a considerable track record helping out businesses in this position reach a successful conclusion.
Find out more about a potential creditors’ voluntary liquidation from our offices near Bedford and meet with one of our senior advisors who will be able to review your situation in a confidential one to two hour appointment. You’ll be able to discover the best way forward for the future of both your company and your finances. Call us on 0800 331 7417
Other services we offer in your area:
Administration Order in Bedford
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Company Administration in Bedford
Company Bankruptcy in Bedford
Company Insolvency Check in Bedford
Company Liquidation in Bedford
Company Voluntary Arrangement in Bedford
CVA in Bedford
Insolvency in Bedford
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Liquidation in Bedford
Members' Voluntary Liquidation in Bedford
Pre-pack Administration in Bedford
Solvent Liquidation in Bedford
Winding Up Order in Bedford
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